Common use of Leasehold Estate Clause in Contracts

Leasehold Estate. The Authority will be, on the date of the delivery of the Bonds, the owner and lawfully possessed of the leasehold estate described in the Site Lease, and the Facilities Lease will be, on the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site Lease, the Site Lease will be lawfully made by the County and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities Lease, and the Facilities Lease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities Lease, or would or might be a ground for cancellation or termination of the Facilities Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Lease, will deliver the same, or a copy thereof, to the Trustee.

Leasehold Estate. The Authority will be, on the date of the delivery of the BondsObligations, the owner and lawfully possessed of the leasehold estate described in the Site Lease, and the Facilities Lease Sublease will be, on the date of delivery of the BondsObligations, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, Obligations the County will be the owner in fee simple of the premises described in the Site Lease, and the Site Lease will be lawfully made by the County County, and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the BondsObligations, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities LeaseSublease, and the Facilities Lease Sublease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities LeaseSublease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease Sublease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities LeaseSublease, or would or might be a ground for cancellation or termination of the Facilities Lease Sublease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease Sublease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities LeaseSublease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities LeaseSublease, will deliver the same, or a copy thereof, to the Trustee.

Leasehold Estate. The Authority will be, on the date of the delivery of the Bonds, the owner and lawfully possessed of the leasehold estate described in the Site LeaseLeases, and the Facilities Lease Facility Leases will be, on the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site LeaseLeases, the Site Lease Leases will be lawfully made by the County and the covenants contained in the Site Lease Leases on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities Facility Lease, and the Facilities Facility Lease will be duly and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Facility Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Facility Lease to be kept, performed and complied with by it. The Authority will not do or permit anything to be done, or omit or refrain from doing anything, in any case where any such act done or permitted to be done, or any such omission of or refraining from action, would or might be a ground for declaring a forfeiture of the Facilities Facility Lease, or would or might be a ground for cancellation or termination of the Facilities Facility Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title and rights of the Trustee under this Trust Agreement Indenture shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Facility Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any notice, communication or other document in any way relating to or affecting the Facilities Facility Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Facility Lease, will deliver the same, or a copy thereof, to the Trustee.

Leasehold Estate. The Authority will beMortgagor holds a valid and binding leasehold interest in the Leasehold Estate, which Leasehold Estate is subject to no prior liens, conveyances or encumbrances except as set forth on Exhibit B hereto; Mortgagor may lawfully mortgage and assign the date same and this Mortgage does not violate any other agreement by which the Mortgagor is bound. Mortgagor shall not hereafter assign, sublease, encumber or transfer any interest in or under the Leasehold Estate or consent to any subordination of the delivery Leasehold Estate while the Secured Obligations remain outstanding or committed for, except with the prior written consent of the BondsMortgagee. Each Lease is in full force and effect in accordance with its terms and there have been no changes, alterations or amendments to the owner Leases. Mortgagor will make no material, adverse changes, alterations or amendments to the Leases without prior written consent of Mortgagee, its successors or assigns; any such changes to be void and lawfully possessed of no effect without such consent. Except as disclosed in writing to Mortgagee, all rents and payments under the leasehold estate described in Leases have been paid to the Site Leaseextent payable to date; and no defaults exist under the Leases, and no event has occurred or is occurring which, with the Facilities Lease passage of time or service of notice, or both, would constitute an event of default thereunder. Mortgagor will bewell and truly perform, on or cause to be performed, all its obligations and agreements as lessee under the date of delivery of the Bonds, a valid subsisting demise for the term therein set forth of the property which it purports to demise. At the time of the delivery of the Bonds, the County will be the owner in fee simple of the premises described in the Site Lease, the Site Lease will be lawfully made by the County and the covenants contained in the Site Lease on the part of the County will be valid and binding. At the time of the delivery of the Bonds, the Authority will have good right, full power and lawful authority to lease said leasehold estate, in the manner and form provided in the Facilities LeaseLeases, and the Facilities Lease will be duly under any renewals or extensions thereof and regularly executed. Without allowance for any days of grace which may or might exist or be allowed by law or granted pursuant to any terms or conditions of the Facilities Lease, the Authority will in all respects promptly and faithfully keep, perform and comply with all the terms, provisions, covenants, conditions and agreements of the Facilities Lease to be kept, performed and complied with by it. The Authority will not do or permit suffer anything which will impair any Lease or which would be an event of default thereunder. Mortgagor shall exercise all renewals of the term of any Lease while the obligations secured hereby remain outstanding or committed for, except where the failure to be doneso renew would not constitute a Material Adverse Effect (as defined in the Credit Agreement). Mortgagor, for itself, its successors and assigns, acknowledges that Mortgagee, its successors and assigns, shall have no obligation to perform the responsibilities of the lessee under any Lease, such responsibilities being those of Mortgagor. Upon reasonable request of the Mortgagee, Mortgagor shall use its best efforts to procure from each Landlord to any Lease a certificate stating that the Lease is in good standing. Mortgagor shall promptly notify Mortgagee of any default under the Lease or omit the occurrence of any event under any Lease, which with the passage of time or refrain from doing anything, in any case where any such act done service of notice or permitted to be done, or any such omission of or refraining from actionboth, would constitute an event of default, and of any oral or might be written claim or notice of default received from a ground for declaring a forfeiture of Landlord under any Lease; and in addition to any other rights contained herein Mortgagor shall permit the Facilities LeaseMortgagee, or would or might be a ground for cancellation or termination of its agents and employees to enter upon and inspect the Facilities premises subject to such Lease by the lessee thereunder. The Authority will promptly deposit with the Trustee (to be held by the Trustee until the title at all reasonable times and rights of the Trustee under this Trust Agreement shall be released or reconvened) any and all documentary evidence received by it showing compliance with the provisions of the Facilities Lease to be performed by the Authority. The Authority, immediately upon its receiving or giving any reasonable notice, communication or other document in any way relating to or affecting the Facilities Lease, or the leasehold estate thereby created, which may or can in any manner affect the estate of the lessor or of the Authority in or under the Facilities Lease, will deliver the same, or a copy thereof, to the Trustee.